Kitco News) -- Gold is back over $1,400 an ounce Tuesday as buyers from Asia and Europe added to positions for last-minute year-end fund portfolios, says George Gero, vice-president ,Global Futures, RBC Capital Markets and precious metals strategist. Higher volume, moving averages, closes and open interest have momentum traders returning to buy gold, too. Gero notes strong weekly chain-store sales are potentially inflationary, another positive for gold. MarketWatch said chain-store sales for the week ended Dec. 25 were up 4.8% versus the year-earlier period, above expectations.

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